Facebook: bullish technicals and favourable EPS forecast

Facebook has been one of the strongest stocks this year, making its way to top-8 largest US companies by market cap. With ever-growing number of users all over the world, the company is set to report another profitable quarter today, after market close. The EPS consensus stands at $0,47 per share, as opposed to $0,42 last year (Capital IQ estimate). Facebook has a well-established habit of beating the consensus.

Technically, the uptrend is intact. The recent pullback looks like a 4th wave correction into Andrews' Pitchfork median line. In other words, there is room for another push higher, above the 99.24 high.